British Airways Hands Over £21B Pension Fund Management
Law360, London (June 3, 2021, 12:14 PM BST) -- British Airways has said it has handed over the asset management of its £21.5 billion ($31 billion) employee pension schemes to BlackRock Inc., citing rising costs and increased regulation.
The airline said on Wednesday that investment decisions would now be taken by the multinational fund manager rather than its in-house team.
The deal covers £21.5 billion in assets under management from BA's two defined benefit retirement plans, Airways Pension Scheme and New Airways Pension Scheme, which together have more than 85,000 members.
"In recent years, regulation has intensified, operational costs have risen and investment complexity has increased," BA Pensions said in...
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